a) I'd expect that the Japanese and Indian (Yes, Indian) manufacturers are watching this very closely.
They could build new cars for less than $10.000 and create plenty of jobs but the days of collecting $70 per hour for pushing buttons will be over.
b)I believe that all three companies are about to fold whether they get a bail out or not. That's why I say to put a lien on all of the inventory.
Then the government seizes all of the vehicles when a plant closes for more than thirty days or defaults on a payment.
Sell the vehicles to Canadians at half price.
The banks win.
Older fuel hogs would disappear in huge numbers.
Foreign car sales would drop for at least five years (By which time the new factory owners are up and running) and the voting public finally gets to feel like a winner.